The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-08-20
CROPS TO TELL THE STORY.
The Business of the Country Trem
bling in the Balance.

bling in the Balance.
NEW YORK, Aug. 10.-R. G. Dun Il Co. s
review of trade for the week says: Every
thing now turns on the crop prospects.
Considerable injury Is no longer disputed;
indeed, its effects are already felt in dimin-
ishing demand from the regions most
affected by the drought for some manufac-
tured products, but the estimates of the ex-
tent of the harm done differ widely
The statement that Messrs. Mckay and
Flood guaranteed the loans by the bank of
Nevada to wheat buyers, and the difficulty
and delay in adjusting San Francisco
speculation affect other interests unfavor-
bly,. Cotton speculation has resulted in a
further decline, and while New Orleans re-
ports as to the yield are less favorable, At
lanta and Galveston report improvement
from the recent rains
The injury to rice from drought and
freshets is estimated in Savannah at $50 900
to SOC, 900 bushels.
PASTURES AND HAY.
What may prove a most serious effect of
the long drought, injury to the pastures
and hay crop and consequent losses in
dairy and animal products, is often over
looked. But the movement of grain from
the northwest is remarkably large, though
idhc SCD ldA SO Z
of it. Buffalos July receipts by
lake have never been exceeded
but once, while the latest report of east
bound rail shipments from Chicago is the
smallest for many years While the rail
roads continue to report large earnings, l0S
roads showing net gain Of II per cent. for
July over last year, weakness i'll securities
operates to prevent sales for extensions and
new roads and thus affects the demand for
. In1, 10 Il,
weaker and the sale of 5000 tons to a
Southern road at price equivalent to
$37 ton is noted Makers are disposed to
meet foreign competition, though a renewal
of the compact to regulate production
promises to prevent undue depression. Pig
iron is also shaded, and it is admitted that
the supply seems to exceed the demand.
COFFEE ADVANCES.
Coffee advances again, but many dealers
complain that the distribution does not meet
expectations.
Wool is in better demand at Boston, prices
having been reduced and the tone of the
wooden goods market is more favorable.
Cotton goods continue firm with full de
mand for the product of the mills.
The trade in boots and shoes is reported
hardly satisfactory, orders from the corn
growing regions having been affected by
Ius W tuc SlOpo.
The monetary situation had one unfavor-
able and several favorable features. Strin-
gency increases at several interior points,
and reports of unsatisfactory or 'only fair"
collections grow more numerous, but the
purchase of bonds by the Treasury, the
shipments of gold from Europe and the
sales of securities abroad by Gould and by
some German houses here, appear to avert
the pressure in this market for the present.
The exports in July were more satlsfac-
tory, and for the past three weeks have been
slightly larger than for the same weeks last
year, and while the reports of gold on the
way from Europe are probably exaggerated
for effect, the outward movement of securi-
ties undoubtedly continues.
The business failures occurring through
out the country during the last week mum
ber, for the United States, 1875, and for
Canada 26, total of 161, against 1S0 last
week and 163 the week previous. This
week the casualties in the Middle and New
England States, and New York city, are ex-
ceptionally light.